INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What could cause a new business to have very few sales during its first year?
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Failure to apply for a loan or a grant
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Lack of a good advertising campaign
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Lack of a trademark for the company logo
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Failure to pay taxes for the new business
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Explanation:
Detailed explanation-1: -According to data from the Bureau of Labor Statistics, as reported by Fundera, approximately 20 percent of small businesses fail within the first year. By the end of the second year, 30 percent of businesses will have failed. By the end of the fifth year, about half will have failed.
Detailed explanation-2: -No business plan or poor planning. This reason is especially true for brand new small business owners. Failure to understand customer behavior today. Inventory mismanagement. Unsustainable growth. Lack of sales. Trying to do it all. Underestimating administrative tasks. Refusal to pivot. More items •15-Mar-2021
There is 1 question to complete.